Abigail Siebert, Author at High Point FCU

High Point FCU Donates $7,000 to Local Food Pantries

High Point FCU has donated $7,000 to support seven local food pantries in their field of membership. As a community-focused credit union, High Point FCU is committed to making a positive impact in the lives of their neighbors. The Olean Food Pantry, Creekside Chapel, Portville Community Food Pantry, Harvest Field Outreach Center, CAC Food Pantry, YWCA of Bradford, and Hinsdale Ischua Food Pantry each received $1,000 donations.

“We believe in the power of community and the importance of lending a helping hand,” said Rich Yeager, President & CEO. “By partnering with these local food pantries, we hope to make a meaningful difference in the lives of individuals and families facing food insecurity.”

High Point FCU would like to thank the dedicated staff and volunteers at the food pantries for their tireless efforts in serving the community. Their commitment to making a difference is inspiring.

High Point FCU is the 2^nd largest credit union in Western New York, with assets of over $400 million. The credit union currently serves over 20,000 members with four branch locations, 1201 Wayne Street and 206 North Clark Street in Olean, 180 West Main Street in Allegany, and 160 South Main Street in Portville.

Financial Preparation for The New Year

The new year is almost here. Are you ready?

Usher in the new year with plans for financial improvement and resolutions to do more.

Here are some tips to get you started:

Tune your budget

It’s great to start off the new year with a plan. A budget is just that — a plan — that starts with the income you expect and your fixed expenses such as your mortgage, insurance, and utilities. The plan incorporates your savings goals, and the remaining money is designated for your other expenses. A realistic budget will help you set your financial goals and will remind you to stick to them. Now is the perfect time to assess last year’s budget or create a new one if you don’t yet have one in place.

Reviewing how you spent last year’s money will help you make better financial decisions for the year ahead. While thinking about it, include a method for tracking your spending. You can do this on a spreadsheet or tag items in your checking account.

Even with a solid plan, there can be surprises along the way, so be sure to build an emergency fund into your budget.

Plan ahead to meet your goals

Consider how you will accomplish your goals. You might have shorter-term goals, such as purchasing a new home, as well as longer-term goals, like retirement. Each set of goals requires different kinds of planning and saving.

Financial planners recommend setting up a separate savings account for each goal. This way, your progress toward that goal is clear.

It’s best to work backward for determining how much you need to save for each goal. Determine the cost of your goal and then establish a reasonable timeframe as well as how much you’ll need to save each month to reach it.

Spend mindfully

Make your financial future more secure this year by identifying your wants and needs. Your needs are necessary for survival and include food and shelter. Your wants are simply things you desire-like a luxury car. Tend to your needs first. Then, if there is money remaining, consider your wants.

This might sound obvious, but for many of us, the lines between wants and needs are blurred.

Maximize tax contributions

Tax deductions can be a valuable source of savings. If you have employer-matching funds available, take advantage of them. Also, verify with your HR contact and your accountant that you are contributing the optimal amount to your 401(k) and IRA.

Check your flexible savings account (FSA)

If you have unspent money in your FSA, now is the time to use it. Your pre-tax dollars in such accounts typically need to be spent before the end of the year or they are lost.

Put the brakes on holiday spending

Avoid going overboard on holiday spending or you might spend the beginning of the year trying to pay it all back.

These are just a few of the many ways you can prepare financially for the coming year. With a little attention to some often-overlooked details, a little perseverance, and a little mindfulness throughout, you’ll be moving forward with a strong foundation and positive outlook.

6 Naughty Holiday Scams to Beware of This Season

‘Tis the season to be jolly! Unfortunately, though, not everything about the holiday season is all happy and nice. As always, scammers are on the scene, ready to turn the joyous season into a nightmare. Here are six naughty-list scams to watch out for this holiday season.

Online shopping scams

In this classic scam, a shopper is lured into a bogus site that appears to belong to a popular retailer and proceeds to purchase an item that does not exist. Alternatively, a too-good-to-miss deal will be heavily promoted through pop-up ads and emails. In either scenario, the shopper will never receive the ordered item and won’t be able to reclaim their lost funds. In some cases, the product will be delivered to their home, but it will be of inferior quality, in poor condition or completely different from the advertised item.

Protect yourself: Only shop reputable websites. Check the URL of each landing page you visit to ensure you are still on a trusted site. Also, if a deal seems too good to be true, it likely is.

Charity scams

Here, a charity targets do-gooders in the weeks leading up to the holidays, asking for donations. Unfortunately, though, the charity is completely bogus, and the money will go right into the hands of scammers. Sometimes, scammers will impersonate a well-known charity and use its name and/or logo to appear authentic.

Protect yourself: If you want to donate money to a specific charity, seek it out yourself instead of following a link or an ad. It’s also a good idea to verify charities on sites like Charity Navigator, GuideStar or CharityWatch.

Gift card scams

Gift cards have always been a popular choice for holiday gifting, but scammers have found ways to exploit them. In a gift card scam, fraudsters convince victims to share their gift card codes by pretending to be tech support or another believable contact.

Protect yourself: Never share sensitive information with an unverified contact.

Porch pirates

In this simple but devastating scam, thieves stake out private residences and snatch up delivered packages from porches soon after they arrive. Scammers may even follow UPS and Amazon trucks so they can pilfer more easily. They’ll wear hats, hoodies or masks to avoid detection via security camera, and once they make off with the goods, there’s virtually no way to recover the packages.

Protect yourself: Track your ordered packages, and once notified that an item has been delivered, bring it inside immediately. If you aren’t home when an item’s been delivered, ask a neighbor to take it in for you.

Travel scams

Traveling during the holidays can get expensive, and scammers know this. In holiday travel scams, they’ll offer vacation packages, or what looks like a dream vacation rental at rock-bottom prices. Then, they’ll disappear once the victim has paid. Alternatively, the victim will arrive at their vacation to find it is quite different than the way it was promised.

Protect yourself: Don’t believe travel deals that are far too cheap for what they are offering. Research any travel agency you are using and be wary of sites and/or ads containing poor grammar and/or lots of spelling mistakes. Finally, be sure to read reviews on vacation rentals before booking and to do a reverse image search on the rental to see if it’s an authentic pic or a stock photo.

Romance scams

The holiday season can be lonely for some people, and romance scams tend to pick up this time of year. In this scam, a love interest will build a relationship with an unsuspecting target, and then ask the victim for funds to help them out of a financial tight spot.

Protect yourself: Be wary of anyone who wants to build a relationship very quickly. It’s also a good idea to do a reverse image search on any photos a new love interest has shared with you to determine if it’s authentic. As always, never wire money to an unverified contact.

Don’t let scammers be your Grinch this Christmas. Watch out for these and similar scams, and use the tips outlined here to stay safe!

What’s the Best Way to Pay for Holiday Shopping?

Q: Holiday shopping season is here, but I can’t pay for it all! What’s the best way to fund my holiday shopping?

A: When it comes to covering the cost of your holiday shopping, you have several choices. Let’s take a look at some options and explore the pros and cons of each so you can make an informed decision.

Credit cards

For many shoppers, the most obvious way to pay for a purchase you can’t cover now is with a credit card.

Pros:

Significant purchase protection.
Convenient payment method.

Cons:

Interest charges for unpaid bills can be very high.
You may be paying off these bills for months or years.
Extended debt can hurt your credit score.
You may be more tempted to (or unknowingly) overspend.

Savings

Dipping into savings to pay for your holiday purchases can free you from sky-high interest charges but comes with drawbacks.

Pros:

You’ll enjoy a debt-free holiday season.
No incurred interest charges.

Cons:

Depleting the savings that’s meant for emergencies can leave you up a creek later.
You’re losing the money your savings may have earned had it been invested or saved longer.

Unsecured/holiday loan

An unsecured loan, also known as a personal loan or holiday loan, is a loan that’s taken out with no collateral.

Pros:

You’ll secure quick funding.
Low interest rates compared to credit cards.
You can stretch the repayment over a longer term for smaller monthly payments.

Cons:

You’ll need to pay the full monthly payment when it’s due.
You may be hit with a fee if you pay off the loan early.
Missed and late payments can hurt your credit score.

Check out our Holiday Loan Special!

Holiday club account

When you open a holiday club account , you’ll make regular contributions toward your set goal throughout the year, and then have funds you’ll need for covering your holiday purchases when the season arrives.

Pros:

Holiday costs get more manageable when spread across the year.
Favorable dividend rates.
Prevents overspending and accumulating new debt.

Cons:

Funds in the account cannot be accessed until the goal (or preset date) is reached. Tying up savings can be irresponsible for those who do not have an emergency fund.

Use this guide to make an informed choice about paying for your holiday shopping.

Don’t Get Caught in a Utility Scam!

Knock, knock! It’s your energy company, here with the bad news that your bill is overdue, so we’re shutting off your electricity unless you pay up right now.

Sounds like a nightmare, right? Well, it’s going to get worse: this is a scam. Pay the visitor at your door, and you’ve just paid a scammer.

It’s happening a lot more lately. So, here’s what you need to know about these scams and how to keep the lights on without falling victim.

How the scam plays out

In a utility scam, a target receives a phone call, email, text message or even an in-person visit from an alleged representative of their gas, water or electric company. This “rep” will claim to be collecting a past due account that’s pending shutoff unless payment is made immediately. They’ll often ask for the payment to be made via wire or through a prepaid gift card. Unfortunately, any money paid will go directly to the scammer, and not to the utility entity they claim to represent.

What to do if you’re targeted

Do not engage with the caller or visitor. If the alleged rep sent you an email or text message, mark it as spam, block the address and do not respond. You can also call the company the scammer claimed to represent to confirm that your account is not pending shut off.

Red flags

Watch out for these red flags which can help you avoid a utility scam:

A demand for immediate payment with no prior warning. Authentic company reps will always give you ample warning, in writing, before enacting a shutoff.
Pressured to act quickly. Scammers want you to act now and think later.
The “representative” cannot provide details about your account or a means to verify their identity.
They request a specific form of payment. Prepaid card requests are almost always a huge red flag in any scenario.

Stay safe

To avoid utility and similar scams, follow these precautionary measures:

Never wire money or send a prepaid gift card to an unverified contact.
Keep the security on your devices at its strongest and updated settings.
Update your spam list often.
Never share your personally identifiable information with an unverified contact.

Utility scams pose a real threat to your financial security. Follow these tips to stay safe!

10 Hacks for a Stress-Free Thanksgiving That Doesn’t Break the Bank

Hosting a Thanksgiving dinner is an enjoyable, rewarding experience, but it can also be a bit much for many of us. The expenses can be sky-high, the to-do list seems endless and the dinner itself can be a harried and breathless affair that puts a damper on any holiday cheer.

Here’s the good news: It doesn’t have to be this way. Consider these 10 hosting hacks to help you enjoy a calm and stress-free Thanksgiving that doesn’t break the budget.

Start planning early

Instead of waiting for the overwhelm to hit a week before Thanksgiving, start planning now. Look through your favorite recipe blogs, food magazines and cookbooks to compile a list of dishes you want to serve. Reach out to friends and family who are joining you for Thanksgiving dinner and inquire about what, if any, dishes they plan to bring. At this time, you can also ask about any dietary restrictions any of your guests may have.

Next, make a detailed menu and start listing the ingredients you’ll need to purchase. You can also jot down any other purchases you’ll need to make, such as decor items and serving dishes. Aside from making your prep easier, planning your menu and purchases early will help you make more responsible money choices as you shop.

Create a detailed schedule

Next, start scheduling the tasks you’ve just listed into your weekly and daily schedules. For example, a few weeks before Turkey Day, you can shop for drinks and any dry and frozen ingredients. You can do all the baking two weeks before the big day, prep your marinades, sauces and salad dressings a week before, the appetizer and sides a few days prior to Thanksgiving, and finally, the entrees on Thanksgiving Day. You may want to write everything down on a calendar so you can get a clear snapshot of what you need to do each day with just one glance.

Of course, if you prefer to marathon-cook for seven hours straight on the day before Thanksgiving, that can work, too. Just make sure you’ve taken care of all the other to-dos, such as shopping and planning the decor, well in advance.

Consider a buffet

If you hate missing all the best parts of the conversation at the Thanksgiving table because you’re busy in the kitchen, you may want to consider a buffet-style meal. While it’s definitely a departure from the traditional sit-down dinner, a serve-yourself meal can be a great way to make things easier for you. You can also get away with offering fewer dishes when it’s all served at one time instead of a formal meal with staggered courses.

Delegate

If no one’s offered to help you cook, don’t be afraid to assign small jobs to your guests so they can be part of the prep. It doesn’t have to be anything too time-consuming on their part, but for you, just knowing that Cousin Jen is bringing the mashed potatoes and your mom will bring her famous pecan pie for dessert means two menu items off your head.

Set up a kids’ corner

If you’re hosting families with children, create a kid-friendly area with games, coloring books and activities to keep the little ones engaged. This way, parents can enjoy the meal without worrying about bored and restless kids. You can also offer kid-friendly menu options like fries and chicken nuggets to keep guests of all ages happy and well-fed.

Use disposable dishes

Are you ready for a super-quick clean up when the party’s over? With today’s robust dinnerware options, you can have your convenience without compromising on your conscience. There are so many eco-friendly disposable options, from compostable cutlery to bamboo plates and so much more.

Set up a self-serve drink station

Create a self-serve drink station with a variety of beverages to cater to different preferences. Include water, non-alcoholic options and a signature Thanksgiving cocktail to keep things festive. This encourages guests to help themselves, freeing you up to focus on other aspects of hosting.

Keep the centerpiece simple

With so much going on at the table, there’s no need to overthink the centerpiece. A simple wooden board filled with seasonal gourds will add that festive touch to the table without breaking the budget. Add some pillar candles from a dollar store to complete the look.

Cook two small turkeys

If you’re hosting a crowd, consider cooking two small birds instead of one large one. You’ll save on defrosting time, freezer space and the stress of choosing the perfect recipe. You may even save money on your entree by splitting it into two with this hack.

If it’s stressing you out, let it go

The best part about being the host is that no one has to know what you’d planned to serve. So if you’re finding that one dish is stressing you out and will cost more than it’s worth at your table, just let it go. Leave it out, and no one will know the difference.

Despite what personal experience may tell you, Thanksgiving does not have to be stressful or expensive. Use these hacks for a stress-free Thanksgiving holiday.

Beware of Mobile App Scams

In today’s digital world there’s an app for practically everything; the weather, mobile banking, socializing, games, entertainment… the list goes on. There are millions of downloadable apps for your phone and electronic devices. With all these convenient apps, there’s more ways for fraudsters to take advantage of innocent mobile app users. Unfortunately, mobile app fraud can come in numerous forms and is not always easy to identify. Here’s some things to look out for:

Fake apps: These apps are made to look like the real apps that the user is intending to download. Also called Malware apps, these apps make it hard to know whether you are downloading a real one or not. Here’s how to spot a fake mobile app:
- Reviews/Downloads. If the app has few downloads and short/vague reviews, chances are it’s a scam. A reputable app will have lots of downloads and descriptive reviews.
- Research. Look into the app developer. See what other apps their company has created and if they’re reputable.
- Details. Make sure the images look professional, no misspellings, different fonts, or anything else that may seem off. A true app developer will also have a description and instructions/features of the app.
- Signs you may have downloaded a fake app; strange messages, battery drainage, random pop-ups, and spikes in data usage

Vishing (Voice Phishing): Voice Phishing is when a scammer calls or leaves voice messages pretending to be from a reputable company or agency. They will attempt to illicit an action such as downloading a malicious application or request personal information such as a credit card number to defraud that person or company. Vishing makes the user believe they are talking to someone or a company they trust. Often Vishing will be done in conjunction with caller ID Spoofing. If you are being asked to download an application or for credit card information from an inbound call, it is best to verify the caller. Validate the phone number by performing a call back to that number. It’s also best to call the number on the back of your bank card if you’ve received a voicemail from a number you don’t know. Be cautious of anyone that wants sensitive information.

Remote Access Scams: This last scam tends to use both fake apps and vishing/phishing to mislead the victims. Remote access scams are when scammers impersonate trusted workers such as tech support, banks, government agencies, etc. This is typically done by vishing or phishing; they call the victim or send them a text and/or email of an urgent issue that needs to be resolved right away. Fraudsters will then trick victims into giving them control of their device by downloading an app, remote desktop software, or built-in tools. Once these fraudsters have remote access, they can access sensitive information such as passwords and financial information. With all that information they can commit identify theft, hold your information hostage, and/or sell your information on the dark web. Here’s how to protect yourself:
- Only download apps from trusted sources, never click a link from an unknown sender
- Before downloading an app check its reviews and ratings
- Research all apps before downloading
- Regularly update your operating system and app versions
- Be cautious when answering unknown numbers, hang up right away if they’re asking about sensitive information
- Never give remote access to someone you don’t know

Sports Gambling App Scams

With football season back in full swing, so are sports betting scams. It’s Sunday, you place a bet, and you win. But as soon as you try and cash out it says declined, you try again. It keeps saying declined. You contact someone about this issue, they say that they need more information and/or identity verification. No matter how much information you give them, you never get your money. Not only do these fraudsters now have your money, but they also have any personal information that you shared with them.

Avoiding Sports Gambling Scams:

Delays in getting paid. One of the most common tricks used is the slow payout scam. Fraudsters delay payment in the hope that the user reverses the request for payout. A scammer will typically request more identity verification before a “payout” is made to slow the payment process, when really, they aren’t going to pay you at all.

Look for verified apps. It’s important to look for sports books that have been approved by your area’s gaming commission. Do not enter any personal information/payment information on apps that can’t be verified. And only download apps from the app store, not through links or pop-up ads. Bookmark websites you know are safe, so you don’t click on a website made to look real.

Phishing and identity fraud. Phishing redirects a user to a fake website and will then collect personal information, such as passwords and security info. These links are made to look like the real deal but beware! Look at the URL, make sure it’s taking you to a trusted site, never open a link from an unknown email, number, or pop-up ad.

Read the fine print. Gambling sites/apps typically offer incentives or bonuses for new users. But they could be misleading, often they’re too good to be true. Be sure to read the fine print carefully. “Risk-free” doesn’t usually mean there’s no risk, typically money lost will turn into a credit that you can use only to place other bets. Even legitimate sports betting apps have the right to freeze your winnings if they suspect there’s an unfair advantage or irregular playing pattern. Be sure to take the time to read the important details.

Stay on the lookout for phishing scams, only place bets on verified sports betting apps, and don’t believe the too good to be true bonuses (they really are too good to be true).

https://www.scams.info/blog/player-protection/sports-betting-scams/

https://www.bbb.org/article/scams/26620-bbb-scam-alert-betting-on-a-big-game-dont-fall-for-a-sports-betting-scam

https://lifehacker.com/how-to-spot-a-shady-online-sports-betting-site-1848525467